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Hospital EMR Systems Market Worth $18.3 Billion by 2023 - Exclusive Report by MarketsandMarkets™

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MarketsandMarkets

Nov 13, 2018, 09:30 ET

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CHICAGO, November 13, 2018 /PRNewswire/ --

According to the new market research report "Hospital EMR Systems Market by Component (Hardware, Software, and Services), Mode of Delivery (Cloud based and on premise), Type (General EMR and Specialty EMR), and Region (North America, Europe, Asia Pacific) - Global Forecast to 2023", published by MarketsandMarkets™, the global Hospital Electronic Medical Records Market is valued at an estimated USD 12.0 billion in 2018 and is projected to reach USD 18.3 billion by 2023, at a CAGR of 8.8% during the forecast period.

     (Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg )

Don't miss out on business opportunities in Hospital EMR Systems Market.

Speak to Our Analyst and gain crucial industry insights that will help your business grow:https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=253

The key factors driving the growth of this market include government support for the adoption of EMRs and the rising need to curtail healthcare costs. However, the high cost of EMR solutions is one of the major factors that is expected to restrain the growth of this market during the forecast period.

By component, the services systems segment accounted for the largest share of the market in 2018 

On the basis of component, the Hospital Electronic Medical Records (EMR) Market is further segmented into services, software, and hardware. In 2018, the hospital EMR services accounted for the largest share of the global market. Services make up a large component of the market due to their indispensable and recurring nature. The healthcare IT industry relies heavily on service providers for consulting, storage, implementation, training, maintenance, and regular technology upgrades. The demand for services is expected to grow rapidly in the coming years due to the introduction of complex software and the integration and interoperability of software, which requires extensive training and upgrades.

Browse in-depth TOC on "Hospital EMR Systems Market"

42 - Tables

30 - Figures  

119 - Pages  

View more detailed TOC @ https://www.marketsandmarkets.com/Market-Reports/EMR-market-253.html

On-premise solutions offer enhanced control, safety of inventory data, and cost benefits in the long term 

Based on mode of delivery, the market is segmented into on-premise and cloud-based solutions. The on-premise segment commanded the largest share of the Hospital EMR Systems Market in 2018. The large share of this segment can be attributed to the fact that on-premise solutions offer enhanced control, safety of inventory data, and cost benefits in the long term.

By type, the general EMRs segment held the largest market share in 2018 

Based on type, the market is segmented into general EMRs and specialty EMRs. The general EMRs segment commanded the largest share of the Hospital EMR Systems Market in 2018. The large share of this segment can be attributed to the multi-function, multi-specialty capabilities of general EMRs enabling their use in various specialties through flexible functioning and incorporated plugins. Majority of hospitals with various specialties generally opt for general EMRs (with customizations performed for the respective specialties). Currently, Epic is one of the vendors offering huge customizations for large hospitals, based on their specialties.

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North America dominated the market in 2018 

In 2018, North America accounted for the largest share of the Hospital EMR Systems Market, followed by Europe, Asia Pacific (APAC), and the Rest of the World (Latin America and the Middle East & Africa). Factors such as federal mandates in the US, growing digitalization in healthcare coupled with favorable government policies, and continuous support in the form of grants by the federal government in Canada are contributing to the large share of North America.

The Hospital EMR Systems Market in Asia Pacific is expected to witness high growth during the forecast period. This can be attributed to the various investments and reforms to modernize China's healthcare infrastructure, the digital healthcare scenario in India, the "One Singaporean, one health record" initiative in Singapore, and the implementation of e-health initiatives in Australia.

The key players in the Hospital EMR Systems Market are Cerner Corporation (US), Epic Systems Corporation (US), athenahealth, Inc. (US), eClinicalWorks (US), Allscripts Healthcare Solutions, Inc. (US), Medical Information Technology, Inc. (US), MEDHOST (US), CPSI (US), and Intersystems Corporation (US).

Browse Adjacent Markets @ Healthcare IT Market Research Reports & Consulting 

About MarketsandMarkets™  

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]

Research Insight: https://www.marketsandmarkets.com/ResearchInsight/hospital-emr-system-market.asp

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SOURCE MarketsandMarkets

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